Saying that 2020 was a challenging year for everyone is an understatement. However, even though the COVID-19 pandemic led to global crisis and recession, agriculture emerged to be one of the most resilient sectors.
In the course of history, agriculture has proven to one of the most lucrative industries. In the U.S. alone, in 2019, agriculture and other related industries contribute to a 5.2 percent share in the gross domestic production (GDP), which is $1.109 trillion.
Agriculture, along with its related industries, also accounts for 10.9 percent of employment in the country. Compared with other volatile sectors such as oil and gas, the agriculture industry provides more stable revenue and growth.
In recent years, there has been a regrowing interest in this sector. The move for sustainability and reduction of carbon footprint are the prime movers for this trend.
Not all agriculture-related businesses can be started with a low investment. But with the right planning and execution, it can provide a handsome return of income.
Profitable Agriculture Business Ideas
Whether a developed or a developing country, agriculture has always been a major source of livelihood. Thanks to technology and science, the agricultural sector across the globe saw major developments in the field.
Organic Fertilizer Production
Recently, vermicompost or organic fertilizer production has become a popular agricultural business option. In the light of home quarantining amid the COVID-19 pandemic, people have renewed interest in gardening.
Developing your own organic fertilizer requires only a little investment, and the whole production process can be learned.
Another profitable agriculture business idea is cultivating microgreens. Most likely, you have already seen these products on your food orders.
Microgreens are, in fact, green leafy vegetables that are harvested during the start of their growth cycle. They grow to be around one to three inches tall. They are often used as edible garnishes or salad ingredients as they offer a variety of flavors, colors, and textures.
What is good about this agriculture business idea is that you can easily start this at home.
Despite the growing popularity of dairy alternatives such as soybean and almond, dairy products remain prevalent. According to the International Dairy Foods Association, the annualized per capita consumption of dairy products such as cheese, yogurt, and butter peaked in 2019.
With a good capital investment and guidance from dairy experts, you might succeed in this business venture in no time.
Fruit & Vegetable Grower
Over the past few years, there has been an increasing demand for fresh produce. More so with the outbreak of the COVID-19 pandemic.
The younger generation, particularly millennials and gen z-ers, are keen on leading a healthy and active lifestyle. Thus, it would not be difficult to find a market if you plan to sell fresh fruits and vegetables.
Plus, the fact that you live in the city should not stop you from realizing this business plan. Vertical farming has proven to be an effective and efficient urban farming solution.
Not only does this sustainable farming method allow you to grow to produce in a limited space, but it also offers a faster turnaround time than traditional farming methods. In just 8 weeks, you can readily harvest your fruits and vegetables.
With the rising demand for honey and its by-products coupled with the scarcity of natural honey, beekeeping farms are starting to pop up worldwide.
Across various industries, the demand for honey remains high. One of the main reasons for this growing demand is the negative health impacts of sugar-based sweeteners. Honey is a healthier alternative as sweeteners and flavoring agents in the food and beverage sector.
There has been an accelerating demand for plant-based food on a global scale due to the increasing consumer awareness when it comes to food and ingredients consumption. Not to mention, environmental concerns fueled this interest to look for plant-based alternatives.
As studies have shown, livestock breeding and food production contribute significantly to greenhouse gases emission.
One of the most popular meat alternatives is soybean. Considering this, you might want to examine the possibility of becoming a soybean grower. Though soybeans natively grow in East Asia, most soybean production occurs in the U.S. and South America.
These are just some profitable agriculture business ideas you might want to consider starting this year. A lot of individuals all over the world have started business in this sector as it had proven to be lucrative. Nonetheless, it cannot be overemphasized that dedication and hard work are crucial to catapult your business to success.